Occidental Petroleum Corporation (OXY) Position Trimmed by Lee Financial Co
Lee Financial Co lowered its stake in Occidental Petroleum Corporation (NYSE:OXY) by 50.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,759 shares of the oil and gas producer’s stock after selling 4,857 shares during the period. Lee Financial Co’s holdings in Occidental Petroleum Corporation were worth $306,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in OXY. Barometer Capital Management Inc. purchased a new position in shares of Occidental Petroleum Corporation in the 3rd quarter worth about $12,213,000. BP PLC purchased a new position in shares of Occidental Petroleum Corporation in the 2nd quarter worth about $5,210,000. Federated Investors Inc. PA raised its position in shares of Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after purchasing an additional 1,152,152 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Occidental Petroleum Corporation by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after purchasing an additional 983,992 shares during the last quarter. Finally, BB&T Securities LLC raised its position in shares of Occidental Petroleum Corporation by 71.1% in the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock worth $27,097,000 after purchasing an additional 188,009 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Cowen and Company set a $75.00 target price on Occidental Petroleum Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC set a $58.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation upped their price target on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and an average price target of $66.07.
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Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down $0.61 during mid-day trading on Wednesday, reaching $67.32. The company had a trading volume of 4,178,200 shares, compared to its average volume of 4,519,871. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $73.51. The company has a market capitalization of $51,160.00, a P/E ratio of 194.09, a P/E/G ratio of 13.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) earnings per share. sell-side analysts predict that Occidental Petroleum Corporation will post 0.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s dividend payout ratio is presently 433.80%.
Occidental Petroleum Corporation Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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